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Decreasing home inventory still indicative of buyers’ market

By
Real Estate Agent with F.C. Tucker Company

INDIANAPOLIS – October housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across Central Indiana, while a decrease in available inventory reduces competition among sellers, according to pended sales statistics compiled by F.C. Tucker Company.

 

“Contrary to perception, mortgage money is widely available and rates are quite good. Combined with a steady demand for housing, we are seeing the number of homes for sale in Central Indiana continue to drop,” said Donna Kreps, Executive Vice President of Tucker's Residential Real Estate Services Division. “Home buyers are still experiencing unprecedented opportunities throughout Central Indiana.”

 

Available homes for sale dropped 12.7 percent in October with 17,746 homes on the market, 2,582 fewer homes than in October 2007. Marion County experienced the greatest decrease in inventory at 18.5 percent.

 

Central Indiana homes are holding their value better than other real estate markets. The average year-to-date sales price for a home in the nine-county area was $145,779, 5.2 percent less than what was reported in October 2007. In comparison, the latest data from the National Association of REALTORS® reported the national average year-to-date sales price was 9 percent lower than the same period last year, as of September 2008.

 

Of the nine counties, Hancock County was the only one to experience an increase in homes sold in October, with a 23.8 percent increase in sales compared to the same time last year.

 

The average number of days on the market is 93 days, a 6.9 percent increase comparing year-to-date figures from 2007 and 2008. Hamilton County boasts the shortest amount of time – 83 days – for homes on the market through October 2008.

Lori Isaacson
Credit Restoration Consultants - Plantation, FL

Hi Kay,

On behalf of Credit Restoration Consultants and the over 120,00 members of Active Rain I want to welcome you to the AR family. Feel free to call or e-mail me with any questions regarding credit repair, credit scores or any credit related issues incuding identity theft. Have fun on AR and keep on blogging!!

 

Lori Isaacson

Nov 14, 2008 03:13 AM
Morgan Fitzgerald
F.C. Tucker Company/Kammeyer Realty Group - Fishers, IN

Hi Kay,

This blog is right on target for how the market is this month.  Things are looking up in Hamilton County!

 

Morgan Fitzgerald

Nov 14, 2008 03:59 AM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Kay....Welcome to ActiveRain.  This is a great community to network with others as well a great place to learn from other's experiences and knowledge.  I've enjoyed it; I hope you enjoy it as well.  Congrats on your first post.

Nov 14, 2008 09:55 AM
Ron Brown NMLS #270845
NMLS ID: 40831 - Federal Way, WA

Kay,

Welcome to Active Rain! Congratulations on your first blog. Check out my daily update for a quick summary of what's moving Markets, and Interest Rates.  You'll find this is a great site for sharing ideas, networking, and growing your business.  If you ever have a question about VA loans, or FHA loans I'd be happy to help!

Ron Brown

VA Loan & FHA Loan Specialist

First Mortgage Company of Washington

 

Nov 14, 2008 12:06 PM
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to the Active Rain community. This is a great site with lots of information.  Have fun with it and hope to see more of your blogs soon!  We have a team of four outstanding full time agents to assist your buyers and sellers in Spartanburg/Greenville, SC.  Let us know if we can ever help. Again, welcome to AR!!

Nov 15, 2008 01:07 AM
Bill Kennedy
Keller Williams Greenville Upstate - Greenville, SC
Homes For Sale Greenville SC

Welcome to Active Rain! This is a great website for building your business, as well as learning from others.  Pat yourself on the back, because you made a GREAT choice in joining the blogosphere!

Write often, and write whatever comes to mind.  Blogs about personal topics and non-real estate items are often the best.  It helps your readers to bond with you, and ends up bringing you a lot of business!

Good luck with your future blogging.  If you'd like more info on points in Active Rain, I wrote a blog about it (click here). Feel free to ask me any questions if you need a hand!

Nov 15, 2008 01:43 PM
P G
Charlottesville Solutions - Charlottesville, VA

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.

Nov 16, 2008 02:44 AM
Steve Vennemann-Hennepin-Dakota-Anoka contract for deed property-Ramsey-MN
BoardWalk Premier Realty INC - White Bear Lake, MN

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On behalf Http://www.mnlakeplace.com  we are happy you became a member of action rain and we wanted to welcome you to http://www.actionrain.com . It is a very good site to learn and network and meet a lot of real estate agents/brokers and mortgage consultants.

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Nov 18, 2008 04:06 AM